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Dec
21st

PARTY TIME By: Clare

You can entertain your staff at a staff party and this will qualify as a tax fee benefit for your employees provided the following conditions are met.

The total cost must not exceed £150 per person, per year.  This figure includes VAT and transport. If the cost goes over this amount, even by £1 then the whole amount is treated as a taxable benefit.

The event must be mainly for staff members and open to all staff, it should not just be an event for directors.

You can then deduct the whole cost as an allowable expense in your accounts and claim back the input VAT.

For more information contact us at Haxton Chartered Accountants in West London.

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